Why in News
NIIF has invested $200 million in iBUS Network and Infrastructure Pvt Ltd., a connectivity technology firm, to support the growth of India's digital infrastructure.
The funds will be deployed towards scaling iBUS' operations through organic and inorganic growth initiatives
NIIF is a government-backed entity established to provide long-term capital to the country’s infrastructure sector.
The Indian government has a 49% stake in NIIF with the rest held by foreign and domestic investors.
With the Centre’s significant stake, NIIF is considered India’s quasi-sovereign wealth fund.
It was set up in 2015 as a Category-II Alternate Investment Fund(AIF)
The Governing Council of the National Investment and Infrastructure Fund (NIIF) is chaired by the Hon’ble Finance Minister of India and has members from corporate bodies, investments and policy sectors.
The Governing Council meets once a year and provides suggestions of the overall strategic decisions of the National Investment and Infrastructure Fund Ltd (NIIFL)
NIIFL’s Board of Directors establishes and reviews the business strategy that guides the business affairs of the organization.
It is composed of shareholder representatives and/or nominees and independent directors.
NIIF manages three funds: Master Fund, Fund of Funds and Strategic Fund.
The funds were set up to make investments in India by raising capital from domestic and international institutional investors
Master Fund -
It is an infrastructure fund with the objective of primarily investing in operating assets in the core infrastructure sectors such as roads, ports, airports, power etc
The Fund of Funds
It anchor and/or invest in funds managed by fund managers who have good track records of delivering returns to investors. The Fund invests in several sectors including green energy, social infrastructure, mid-income and affordable housing, technology, and others
Strategic Opportunities Fund
It invests in growth equity and provides long-term capital to strategic and growth-oriented sectors in the country with the aim to build domestic leaders
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